Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

CLOSING BELL

The signal of a ringing bell ending the regular trading day on an exchange. The honor of ringing the closing bell of an exchange is often celebrated as a notable event when

CLOSING COSTS

Costs and fees required of a buyer in a real estate transaction, or of a borrower in mortgage loans.

CLOSING DAY

1. Date of completion of the formalities of a real estate transaction, or a mortgage loan. Known also as closing date. 2. Same meaning as expiration date.

CLOSING DOWN POINT

Level of output in the short term where production marginal cost equals average variable cost, and the basis to stopping production.

CLOSING ENTRIES

Final bookkeeping entries posted at the end of an accounting period for reducing all nominal, temporary accounts to zero. Balances of these accounts are moved to the income summary account, and drawings

CLOSING OPERATIONS

Accounting tasks by a firm to reconcile expenses and monies, update balance sheets, post profit and loss statements, and transact other necessary filing documents. Closing operations are categorized into three main periodic

CLOSING QUESTION

A final question asked by a salesperson to determine the willingness of the prospect to discuss making a definitive purchase.

CLOSING RANGE

The highest and lowest prices transacted for trades occurring at market close.

CLOSING SALE

In futures trading, a sale transacted to close out a position.

CLOSTRIDIUM BOTULINUM

Spore specie of clostridium bacteria that produces the botulism toxin leading to botulism and other serious pathogenic conditions. Notated also as C. botulinum or Clos. botulinum.

CLOSURE

1. Device that closes or seals an opening of a container or area. A container closure is held in place typically by a screw thread, is plugged in, or snaps over. 2.

CLOUD COMPUTING

the use of a managed, organized, protected network of servers, owned by a service company, but unknown to the public or user. Access is only by the internet or directed URL using

CLUB CLASS

Higher-than-discount airfare that allows penalty-free changes and refunds.

CLUB FLOOR

Premium-priced hotel floor with superior service and security. Known also as concierge floor.

CLUSTER ANALYSIS

Statistical classification technique in which cases, data, or objects, such as events, people, and things, are subdivided into groups or clusters. It is a discovery tool used to help reveal associations, patterns,

CLUSTER SAMPLING

Survey method in which groups or clusters of sampling units are selected from a population for analysis. Individual units are part of the cluster, but not individually surveyed.

CLUSTERED STORAGE

Multiple storage servers working together to provide high response rate, availability, and accessibility for the multiple read and write requests. This is employed for a large website.

CMA EXAM

Certified Management Accountant test, administered to individuals who are seeking to become certified. Each state governs its own rules and regulations of this test and certification.

CMR

Standardized document required for cross-border transport of cargo by road. It is based on UN recommendations for standardized international rules and is in force in the European Union. CMR it the acronym

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